USD/TRY Down 28 Pips On Hourly Chart, Came Into Today Up For the 2nd Straight Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated September 30, 2021 21:32 GMT)

Currently, USDTRY’s rate is down -0.28 pips (-0.03%) from the hour prior. This is the 2nd consecutive hour USDTRY has seen its price head down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

USDTRY End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDTRY is up 454 pips (0.51%) since the previous day (opening today near 8.9111), marking the 2nd straight day an upward move has occurred. Out of the 39 instruments in the Forex asset class, USDTRY ended up ranking 8th for the day in terms of price change. Below is a price chart of USDTRY.

USDTRY

USDTRY Technical Analysis

As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 2985.4 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 7 out of the past 10 days.